From the course: Leadership Stories: 5-Minute Lessons in Leading People
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Build perseverance
From the course: Leadership Stories: 5-Minute Lessons in Leading People
Build perseverance
- Procter & Gamble started making Pringles in 1971. And it was an instant success. By 1975 it was a household name. It had 15% market share and was selling 10 million cases a year. But a year later, sales dropped 20%. Enough to send any brand manager into panic mode. The following year, sales dropped another 10%. Now, that's probably when speculation started that the company would sell the brand. P&G wasn't used to those kind of steep sales declines, and certainly not two years in a row. Well, another year went by, and another 10% of sales vanished. Can you imagine how hard it must have been to get employees to want to take an assignment on Pringles? By 1979, the brand was in total free fall. Sales dropped over 30% that year, and we're now down to four million cases a year. That's a 60% decline in four years. That's when a line was drawn in the sand. P&G executives declared that they would either fix the brand or sell it in five years. So, over the next 18 months management put…
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Customer versus employee focus4m 40s
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Find passion for the customer3m 23s
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How to remove passion drains3m 47s
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How to finish the race3m 46s
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Build perseverance4m 2s
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Stop people pleasing3m 16s
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Overcome past failures2m 53s
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Overcome fear4m 57s
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Find common values2m 17s
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Use competition for collaboration3m 43s
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Never work with strangers again4m 41s
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Build company values through story3m 45s
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